Omega Healthcare Investors (OHI) Q1 2026 Earnings
How Did OHI Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: +6.60%.
Did OHI Beat Earnings? Q1 2026 Results
Yes. Omega Healthcare Investors reported Q1 2026 earnings of $0.82 a share on Apr 28, 2026, beating the $0.49 consensus estimate by 66.1%. Revenue was $323.0M against a $266.7M estimate.
Omega Healthcare Investors posted a solid first quarter for fiscal 2026, extending its beat streak to four consecutive quarters as adjusted FFO of $0.82 per diluted share landed ahead of the $0.48 consensus estimate, while revenue climbed 16.7% year-over-year to $322.95 million. The headline growth was driven by higher rental income, new investment activity, and a recovery of credit losses, with GAAP net income rising to $158.58 million from $112.06 million in the year-ago period. A particularly notable catalyst was the company's $251.00 million in new Q1 investments, including a 9.9% equity stake in Saber Healthcare and its first Canadian development loan, signaling a deliberate expansion beyond traditional triple-net leases into RIDEA structures and international markets. The planned $480.00 million disposition of 18 underperforming CommuniCare facilities, twelve of which closed in April, further sharpens the portfolio's quality profile. Looking ahead, management lifted its full-year 2026 AFFO guidance midpoint by $0.02 to $3.22 per diluted share, reflecting continued confidence in operator fundamentals as trailing EBITDAR coverage improved to 1.58x.
- FAD per share up 9.5% year-over-year driven by accretive investment activity and active portfolio management
- Rental income increased to $266.9 million from $228.4 million year-over-year
- Recovery of credit losses of $3.3 million vs. provision of $5.1 million in Q1 2025
- Operator coverage metrics continued to modestly improve, with EBITDAR coverage (after management fees) reaching 1.58x for twelve months ended December 31, 2025
- Occupancy stable at 82.6% for twelve months ended December 31, 2025
- New resident fees and services income of $6.7 million from RIDEA-structured senior housing operations
“We are pleased to report strong first quarter results, with FAD per share up 9.5% over the same quarter last year. This reflects our continued accretive investment activity, augmented by active portfolio management. As a result of our strong start to 2026, we were able to increase the low end of our AFFO guidance, moving the midpoint up by two cents to $3.22.”
Omega Healthcare Investors CEO, on the earnings call
What Was Omega Healthcare Investors's Outlook in Q1 2026?
Omega raised its full-year 2026 Adjusted FFO guidance midpoint by $0.02 to $3.22 per diluted share, with the updated range of $3.19 to $3.25 per share (previously $3.15 to $3.25). Guidance assumes all disclosed new investments, Genesis continuing full contractual rent of $13.3 million per quarter, Maplewood paying $19.5 million per quarter, quarterly G&A of $14-15 million, sale of 18 CommuniCare facilities for $480 million, conversion of $65 million in maturing mortgages to fee simple real estate, and repayment of $224 million in non-real estate backed loans throughout 2026. Guidance excludes additional acquisitions, capital markets activity, interest refinancing expenses, and provisions for credit losses.
OHI YoY Financials
| Metric | Q1 2026 | Q1 2025 | Year over year |
|---|---|---|---|
| Revenue | $323.0M | $276.8M | +16.7% |
| Operating Income | $159.9M | $156.4M | +2.2% |
| Net Income | $151.0M | $109.0M | +38.5% |
OHI Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.